Tint World Triple Net Leased Investment

Retail-Commercial for Sale
Catylist Listing ID: 30826733
Property Subtypes: Free-Standing Building
Building Status: Proposed
Building Size (RSF): 4,800 SF
Gross Building Area: See Agent
Sale Price: $699,000
Unit Price: $145.63 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Other
Cap Rate: 7.5%
Average Occupancy Rate: 100
Last Updated: 9/25/2023

Overview / Comments

Excellent triple net leased investment opportunity located in Pensacola, FL. The +/- 4,800 SF freestanding building is situated on approximately .52 acres off North W Street. The tenant, Tint World Automotive Styling Centers, has a 10-year lease commencing on February 1, 2023. Tint World’s lease has a fixed base rent for the first two years, with a 2% increase every year for the remainder of the lease. The large warehouse features a 1,200 SF showroom in front, an office, and two bathrooms. The building has a side drive-up loading dock, an alarm system, and a new roof coating as of November 2022. The site is located in a well-known industrial corridor in Pensacola. The structural and exterior elements of the premises, bearing walls, foundations, concrete slabs, and
roof shall be maintained by the landlord. The property is being offered at an attractive 7% cap rate and is an ideal opportunity for a passive investor looking for a corporate guaranteed asset in the state of Florida.

Current Tenants

Tenant Business Name Tint World Automotive Styling Centers
Website URL https://www.tintworld.com
Industry Type Retail Trade
Lease Expiration 10/2032
Escalations fixed base rent for the first two years, 2% increase every year for the the remainder of the lease

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Tax ID/APN: 381S303001001020
Property Visibility: Excellent
Largest Nearby Street: N W Street
Area Description: Pensacola is located on Florida’s Gulf Coast near the Florida/Alabama state line. The Pensacola market has experienced explosive growth in recent years due to the high population growth and strong median income. The strong economy and tourism have fueled the housing and retail demand in Pensacola over recent years. The government has a substantial presence in the metro, with more than 23,000 military and civilian personnel employed at NAS Pensacola, located approximately 25 minutes from the site. Also, Whiting Field Naval Base is approximately 35 minutes from the site. The property is in close proximity to the core retail trade area, airport, hospital, Pensacola State College, University of West Florida, and the beautiful tourist beach destinations such as Perdido Key, Pensacola Beach, Gulf Breeze, and Navarre Beach
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 4,800 SF
Property Condition: Good
Construction/Siding: Wood Siding
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,282 74,457 179,873
Median Age: 37.18 36.67 38.04
Households: 1,742 28,121 73,227


Photograph of Listing Agent

Robert Bell

Bellcore Commercial LLC Gulf Coast CMLS Member
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